Latest news with #JNPA
Time of India
6 days ago
- Business
- Time of India
Jawaharlal Nehru Port Authority: JN Port Authority Targets Stock Market Listing After Surpassing 10 Million TEUs Capacity, ET Infra
Advt Advt By , ETInfra Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. State-owned Jawaharlal Nehru Port Authority (JNPA) has come on the radar of the government as a potential entity to be listed on the stock exchange after becoming the first Indian port to cross 10 million twenty-foot equivalent units (TEUs) capacity mark, according to and when JNPA is taken public, it will become the first major port (a term used to describe state-owned ports) among the dozen owned by the Union government, to be strong fundamentals could make it an attractive proposition for investors, multiple sources port located at Nhava Sheva near Mumbai handled a record 7.301 million TEUs in fiscal 2025, the most since the port started operations 36 years ago, clocking a growth of 13.55 per cent over the previous year. It handles more than half of the container cargo among major ports.A TEU is the standard size of a container and a common measure of capacity in the container overall cargo (both container and non-container) handled at the port located near Mumbai rose 7.5 per cent to 92.28 million tonnes (mt) from 85.82 mt a year the government decides to list JNPA, it will join a small group of port operators whose shares are listed on the them is Adani Ports and Special Economic Zone Ltd, India's biggest private port operator and a part of the diversified Adani Group. JSW Infrastructure Ltd, the nation's second biggest port operator, is also listed. Both APSEZ and JSW Infrastructure run a network of ports on the western and eastern APSEZ's flagship port in Gujarat, is India's biggest commercial and container port by volumes handled. Gujarat Pipavav Port Ltd, 43.01 per cent owned by A P M Terminals Management B V, the port operating unit of Denmark's integrated transport giant A P Moller-Maersk A/S, is the only standalone port to be listed in India. Gujarat Pipavav Port runs a private port at Pipavav in 12 Major Port Authorities and the Airport Authority of India have been kept outside the purview of the Public Sector Enterprise (PSE) policy unveiled by the government in 2021 for strategic disinvestment (read privatisation).The Public Sector Enterprise policy for Aatmanirbhar Bharat, which classifies public sector commercial enterprises as strategic and non-strategic sectors, would be limited to central public sector enterprises, public sector banks and public sector insurance 2021, the government carried out a structural reform of major ports by converting them from 'trusts' into 'authorities' to give them more autonomy and help compete with non-major or private ports. The move was fashioned on the model followed by Singapore where the erstwhile Port of Singapore Authority was converted into a corporate entity called PSA International Pte Ltd after separating the regulatory functions which was vested with the Maritime and Port Authority of government had initially thought of corporatising the major ports that were run as 'trusts' but had to back off in the face of strong opposition from the workers JNPA would help the government earn dividends, which is not the case now.
Yahoo
21-05-2025
- Business
- Yahoo
BW LPG Terminates $10M Investment in India
BW LPG Limited (NYSE:BWLP) has reiterated its focus on core value drivers of shipping and trading as it faces heightened market uncertainties that have significantly impacted the business landscape. On May 20, the company confirmed it will no longer be part of the planned LPG onshore import terminal at Jawaharlal Nehru Port Association (JNPA) in Navi Mumbai, India. A financial analyst working away on her laptop surrounded by financial reports and charts. The company had entered into a $10 million strategic investment with Confidence Petroleum India Ltd to develop a cryogenic LPG storage facility at JNPA. However, with the energy sector under immense pressure amid a slowing global economy, it has decided to cease its investment and discontinue its involvement. Even as BW LPG Limited discontinues the strategic investment, it insists that India remains a vital market and will continue to support its energy transition through other initiatives. BW LPG has etched its name as a leading owner and operator of LPG vessels. It owns and operates a fleet of more than 50 huge gas carriers. With five decades of experience, the company is focusing on LPG shipping in an area where it generates significant value. The company delivered solid first-quarter 2025 results with a net profit after tax of $67 million. It also affirmed its commitment to returning value with a $0.28 dividend representing a 75% payout. BW LPG also repurchased 316,437 shares, affirming confidence in the company's long-term value. While we acknowledge the potential of BW LPG Limited (NYSE:BWLP) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BWLP and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None.
Yahoo
21-05-2025
- Business
- Yahoo
BW LPG discontinues $10m investment in LPG import terminal project in India
BW LPG has announced the cessation of its investment in the planned liquefied petroleum gas (LPG) onshore import terminal at Jawaharlal Nehru Port Association (JNPA) in Navi Mumbai, India. The project, a joint venture (JV) with Confidence Petroleum India and Ganesh Benzoplast, announced in February last year, aimed to develop a cryogenic LPG storage facility. BW LPG had committed $30m (S$38.66m) to Confidence Petroleum as part of the alliance, through a preferential allotment of equity shares, amounting to an 8.5% stake on a fully diluted basis. The decision aligns with BW LPG's strategy to concentrate on its primary business drivers – shipping and trading. BW LPG CEO Kristian Sørensen said: 'We are deeply grateful to our partners in India for their commitment and collaboration throughout the project's planning phase. This decision was not made lightly but reflects a realignment of our business priorities in a changing environment. India remains a vital market for BW LPG, and we continue to support its energy transition through other strategic initiatives.' The initial investment for the project was approximately $10m. However, due to heightened market uncertainties and a strategic shift towards optimising resources, BW LPG has decided to withdraw from the project. This move is part of the company's efforts to maintain operational agility and ensure the effective allocation of its assets. Furthermore, the Indian Government recently asserted its right to pre-empt oil and natural gas production in the event of a national emergency. This is part of the draft rules under the recently amended oilfields legislation, which aims to protect national interests during crises. The Ministry of Petroleum and Natural Gas is seeking feedback on these draft rules, which update provisions from the 1948 Act, aiming to boost domestic production, attract investment and support India's energy transition goals. "BW LPG discontinues $10m investment in LPG import terminal project in India" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
20-05-2025
- Business
- Business Wire
BW LPG Limited Ceases Investment in LPG Onshore Import Terminal Project in India
SINGAPORE--(BUSINESS WIRE)--BW LPG Limited ('BW LPG' or the 'Company', OSE ticker code: ' NYSE ticker code: 'BWLP') has announced its cessation of its investment in the planned LPG onshore import terminal at Jawaharlal Nehru Port Association (JNPA) in Navi Mumbai, India. The project, initiated through a partnership agreement with BW Confidence Enterprise Private Limited ('BW Confidence'), a joint venture that BW LPG entered into with Confidence Petroleum India Ltd. (NSE/BSE code: 'CONFIPET'), and Ganesh Benzoplast Limited ('Ganesh Benzoplast', NSE Code: 'GANESHBE', BSE Code: 500153') aimed to develop a cryogenic LPG storage facility at JNPA, with a BW LPG investment of approximately USD 10 million. In light of ongoing and heightened market uncertainties influencing the global business landscape, the BW LPG management has decided to strengthen its strategic focus on the company's core value drivers—shipping and trading. Consequently, the company will scale back activities within its infrastructure segment to ensure optimal resource allocation and maintain operational agility. As a result, the Company has made a strategic decision to cease the investment in the onshore LPG import terminal at JNPA and discontinue its involvement in the terminal's development. Kristian Sørensen, CEO at BW LPG, states, 'We are deeply grateful to our partners in India for their commitment and collaboration throughout the project's planning phase. This decision was not made lightly but reflects a realignment of our business priorities in a changing environment. India remains a vital market for BW LPG, and we continue to support its energy transition through other strategic initiatives.' About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating a fleet of more than 50 Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and investment in LPG downstream distribution, BW LPG offers an integrated, flexible and reliable service to customers along the LPG value chain. Delivering energy for a better world - more information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, and water treatment. This information constitutes inside information pursuant to Article 7 of the EU Market Abuse Regulation and is subject to the disclosure requirements set out in Section 5-12 of the Norwegian Securities Trading Act. This stock announcement was published by Aline Anliker, Head of Corporate Communications, on 20 May 2025 at 7:00am CET.
Yahoo
20-05-2025
- Business
- Yahoo
BW LPG Limited Ceases Investment in LPG Onshore Import Terminal Project in India
SINGAPORE, May 20, 2025--(BUSINESS WIRE)--BW LPG Limited ("BW LPG" or the "Company", OSE ticker code: " NYSE ticker code: "BWLP") has announced its cessation of its investment in the planned LPG onshore import terminal at Jawaharlal Nehru Port Association (JNPA) in Navi Mumbai, India. The project, initiated through a partnership agreement with BW Confidence Enterprise Private Limited ("BW Confidence"), a joint venture that BW LPG entered into with Confidence Petroleum India Ltd. (NSE/BSE code: "CONFIPET"), and Ganesh Benzoplast Limited ("Ganesh Benzoplast", NSE Code: "GANESHBE", BSE Code: 500153") aimed to develop a cryogenic LPG storage facility at JNPA, with a BW LPG investment of approximately USD 10 million. In light of ongoing and heightened market uncertainties influencing the global business landscape, the BW LPG management has decided to strengthen its strategic focus on the company's core value drivers—shipping and trading. Consequently, the company will scale back activities within its infrastructure segment to ensure optimal resource allocation and maintain operational agility. As a result, the Company has made a strategic decision to cease the investment in the onshore LPG import terminal at JNPA and discontinue its involvement in the terminal's development. Kristian Sørensen, CEO at BW LPG, states, "We are deeply grateful to our partners in India for their commitment and collaboration throughout the project's planning phase. This decision was not made lightly but reflects a realignment of our business priorities in a changing environment. India remains a vital market for BW LPG, and we continue to support its energy transition through other strategic initiatives." About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating a fleet of more than 50 Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and investment in LPG downstream distribution, BW LPG offers an integrated, flexible and reliable service to customers along the LPG value chain. Delivering energy for a better world - more information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, and water treatment. This information constitutes inside information pursuant to Article 7 of the EU Market Abuse Regulation and is subject to the disclosure requirements set out in Section 5-12 of the Norwegian Securities Trading Act. This stock announcement was published by Aline Anliker, Head of Corporate Communications, on 20 May 2025 at 7:00am CET. View source version on Contacts For further information, please contact Kristian Sørensen, Chief Executive OfficerSamantha Xu, Chief Financial
